Large businesses have big budgets for marketing and promotion and as a result, people gravitate towards buying their products. What problems does this cause? What could be done to encourage people to buy local products?

Companies globally shred millions to gain customer focus with the help of Advertisements and Marketing to sell their products whereas local businesses strive in the same area to connect with potential customers.

As a result

, there are multiple issues like monopoly or product closure. There are a few steps adopted to address

this

issue and motivate people to buy local products. Globalisation is certainly escalating the opportunities of big sharks with the huge amounts spent on promoting their products in a country or a region, the local business failed to attract purchasers who were actually their clients.

For example

, Mi Mobiles' marketing strategy is powerful with the introduction of a variety of features that since the year of their launch they are making good profits due to multiple local companies like Lava, Motorola or Karbon etc are suffering.

Moreover

, few are on the verge of closure.

However

, there are numerous solutions that should address these issues. The main way to combat

this

is to subsidize the business with the help of the Government in various areas.

For example

, Nykaa is an Indian start-up which was funded by Government under the Start-up promotion scheme. ,Now

this

brand has grown multiple folds, and in the department of Fashion, online sharks like Amazon and Flipkart are losing their customer. In conclusion, despite the causes being more severe in many places, where subsidies by the government and supported by large businesses were implemented,

this

issue would be hopefully be solved soon